200
200
Dec 14, 2012
12/12
by
KCSM
tv
eye 200
favorite 0
quote 0
calling it a big success for greece and a big success for europe. instors are still uncertain about the global economic outlook despite the measures taken to stabilize the euro zone. major central bank leaders are beefing up the coordinated action to secure confidence in global financial markets. they're extending a program that makes it easier for commercial banking to borrow money. taking part are the u.s. federal reserve and the european central bank as well as the central banks of canada, britain and switzerland. the leaders agreed to extend the foreign currency liqdity swap by one year. the arrangement was set to expire next february. the bank of japan whether to join the plan at the policy meeting next week. it was introduced last november when commercial banks had trouble getting money from the markets due to the european credit concerns. the bank leaders say their decision shows they're taking all possible measures to ease global financial strains. >>> more business headlines for you next hour. here's a check on markets. >>> north korea's st
calling it a big success for greece and a big success for europe. instors are still uncertain about the global economic outlook despite the measures taken to stabilize the euro zone. major central bank leaders are beefing up the coordinated action to secure confidence in global financial markets. they're extending a program that makes it easier for commercial banking to borrow money. taking part are the u.s. federal reserve and the european central bank as well as the central banks of canada,...
38
38
tv
eye 38
favorite 0
quote 0
greece has given its financial backers something of an early christmas present by buying back a chunk of its debt from them however when they take the wrapping paper off that gift they might find it's a little less which they ask for as part of a buyback scheme which so i think buy back its own problems at around thirty four percent of their original value recording to the french finance minister but that should be enough in order to see them receive the next round of bailout money that the country's been crying out for in fact they've been waiting for that cash since june the international monetary fund how to expected greece to be able to get its debt situation down to one hundred and twenty four percent overall economic output by twenty twenty really does not seem likely right now this is because the i.m.f. to say well we won't be lending any more money to any countries that can't pay back their debts however there is a dangerous precedent with this in terms of greece been able to return the money of course private investors private creditors greece well a lot of banks and a lot of
greece has given its financial backers something of an early christmas present by buying back a chunk of its debt from them however when they take the wrapping paper off that gift they might find it's a little less which they ask for as part of a buyback scheme which so i think buy back its own problems at around thirty four percent of their original value recording to the french finance minister but that should be enough in order to see them receive the next round of bailout money that the...
121
121
Dec 19, 2012
12/12
by
KRCB
tv
eye 121
favorite 0
quote 0
s&p raised greece's credit rating on tuesday from selective default to b-minus. the new rating is still low and not suited to investment, but s&p officials say the outlook is stable. the greek government bought back sovereign bonds from commercial banks and the private sector earlier this month at prices lower than the face value. s&p officials praised the euro zone members' decision to provide greece with financial support. they say the upgrade reflects s&p's view that greece's neighbors are serious about keeping the country in the eurozone. >>> back here in japan the trade deficit came to about $11.3 billion in november, posting a red for a fifth month in a row. finance ministry officials say the figure is a record high for november. that's the third highest level since comparable records became available back in 1979. exports fell by 4.1% from a year earlier in yen terms. exports have fallen six months in a row. ships and autos led the drop. meanwhile, imports rose by .8% from a year earlier. that was due mainly to increases in telecom equipment and liquefied
s&p raised greece's credit rating on tuesday from selective default to b-minus. the new rating is still low and not suited to investment, but s&p officials say the outlook is stable. the greek government bought back sovereign bonds from commercial banks and the private sector earlier this month at prices lower than the face value. s&p officials praised the euro zone members' decision to provide greece with financial support. they say the upgrade reflects s&p's view that greece's...
170
170
Dec 13, 2012
12/12
by
KCSM
tv
eye 170
favorite 0
quote 1
greece is buying back bonds. it exceeds the 30 billion euro target. greece had been seeking investors willing to accept at 30 to 40% of the bond's face value. the program is designed to reduce the debt burden. analysts estimate greece will be able to shave about 20 billion euro's off its debt. this will clear the way for greece to receive a new infusion of more than 43 billion euros in aid from the eu and other principal lenders. the organization of petroleum export and countries held a general meeting in vienna yesterday. representatives of the 12 oil exporters agreed to retain the current production target of 30 million barrels a day. they say supply is sufficient and prices are appropriate for the moment. prices in new york of benchmark crude futures have been relatively stable since the summer at just around $85 a barrel. this is against a background of slower economic recovery. opec expects demand for crude to rise as the dploe ball economy picks up. some analysts say opec could consider cutting output. here is a check on markets. >>> nhk special
greece is buying back bonds. it exceeds the 30 billion euro target. greece had been seeking investors willing to accept at 30 to 40% of the bond's face value. the program is designed to reduce the debt burden. analysts estimate greece will be able to shave about 20 billion euro's off its debt. this will clear the way for greece to receive a new infusion of more than 43 billion euros in aid from the eu and other principal lenders. the organization of petroleum export and countries held a general...
233
233
Dec 2, 2012
12/12
by
KPIX
tv
eye 233
favorite 0
quote 0
we're becoming greece because of out-of-control entitlement spending. there's no age adjustment for medicare and social security. there is no means testing, of in the president's plan. we should do what ronald reagan and tip o'neill did, adjust the age for retirements, a means test benefit, do it together, and republicans should put revenues on the table and the president's plan does nothing but damn us to becomeag greece. >> schieffer: let us shift to the whole situation of the episode that happened in benghazi, that's been kind of in turmoil. what happened? how was it that an american ambassador and three other mers died there? susan rice, who many think the president was nominating to be secretary of state, was back up on capitol hill during the week. did she help or hurt her case? >> well, apparently, according to the senators she met, she didn't do herself much good. but let's just say this about benghazi-- it's just not about susan rice. it's about a system that failed. the military failed. the intelligence community failed. before and during. thi
we're becoming greece because of out-of-control entitlement spending. there's no age adjustment for medicare and social security. there is no means testing, of in the president's plan. we should do what ronald reagan and tip o'neill did, adjust the age for retirements, a means test benefit, do it together, and republicans should put revenues on the table and the president's plan does nothing but damn us to becomeag greece. >> schieffer: let us shift to the whole situation of the episode...
26
26
tv
eye 26
favorite 0
quote 0
britain greece skips its latest installment of bailout funds needed to keep the economy afloat in exchange for a debt by about scheme which many see as counterproductive. and. watchdog resumed talks with iran we look at why many iranians consider quire of energy is not just a matter of necessity but of national pride. welcome to r.t. world news around the clock kerry just ukrainian journalists kidnapped by syrian rebels faces execution on thursday that's a fifty million dollar ransom is paid. had been working in syria during the conflict helping international media including r.t. european federation of journalists has strongly condemned the targeting reporters making outrageous demands a middle east correspondent for the smear is following developments. the journalist and her coach never was taken hostage in october and no hones the free syrian army has held her for nearly two months they've accused her of being both a russian and a syrian spy she has appeared in two you tube videos that were released earlier by the free syrian army and in one of those she appealed to the embassies of ukra
britain greece skips its latest installment of bailout funds needed to keep the economy afloat in exchange for a debt by about scheme which many see as counterproductive. and. watchdog resumed talks with iran we look at why many iranians consider quire of energy is not just a matter of necessity but of national pride. welcome to r.t. world news around the clock kerry just ukrainian journalists kidnapped by syrian rebels faces execution on thursday that's a fifty million dollar ransom is paid....
29
29
tv
eye 29
favorite 0
quote 0
here breeze a sigh of relief as greece is going through with the it's a dead buyback scheme with athens not qualifying for billions more in bailout cash . and the u.n. nuclear watchdog renews torso with iran hoping to examine facilities they believe whole secret atomic development despite the evidence to prick basis patients. it was an r.t. live from moscow good to have you with us washington's decision to brand a leading rebel group in syria as a terrorist organization spots of course of all trades among others who enjoy america's overwhelming support the key rebel coalition recognized by the u.s. as the sole representative of the syrian people has thrown its weight behind the al qaeda linked al nusra front archies ganja can explain. it's clear that washington is trying to distance itself from extremists in syria they have designated a front a terrorist organization it's thought to be one of the most aggressive and ruthless groups currently involved in the conflict washington's decision to call them terrorists is seen as more of a symbolic move because many other fighters in syria poss
here breeze a sigh of relief as greece is going through with the it's a dead buyback scheme with athens not qualifying for billions more in bailout cash . and the u.n. nuclear watchdog renews torso with iran hoping to examine facilities they believe whole secret atomic development despite the evidence to prick basis patients. it was an r.t. live from moscow good to have you with us washington's decision to brand a leading rebel group in syria as a terrorist organization spots of course of all...
17
17
tv
eye 17
favorite 0
quote 0
ultimately is austerity this is this is what we're seeing happen in europe what we're seeing happen in greece and spain and in the u.k. where they didn't pass any stimulus packages like the one you were just talking about and their unemployment rates are significant about their g.d.p. or. higher their g.d.p. growth is significantly lower there in recession after recession republicans just not paying attention even some democrats not paying attention to what's going on across across the pond there i would suggest to you that republicans are paying attention to a lot of things and where they're bracing austerity which is clarity and to not work this and you austerity would be a good let's zero out the pell grants let's cut back subsidies on amtrak let's pare back some of the some of the so then do these federal workers pay let's cut. to not only rich rate is limited to realize your obligation not only there but even though the federal civilian employees pay has been quote frozen unquote the step increases are still in place that there are there are civilian employees who are making more than th
ultimately is austerity this is this is what we're seeing happen in europe what we're seeing happen in greece and spain and in the u.k. where they didn't pass any stimulus packages like the one you were just talking about and their unemployment rates are significant about their g.d.p. or. higher their g.d.p. growth is significantly lower there in recession after recession republicans just not paying attention even some democrats not paying attention to what's going on across across the pond...
16
16
tv
eye 16
favorite 0
quote 0
breeds a sigh of relief as greece scrapes through with its. watchdog talks with iran to examine. how secret nuclear. to practice is if. you're watching kerry johnston at least sixteen people have reportedly been killed and many more injured including children in a bomb explosion in the syrian capital of damascus this follows several blasts outside the interior ministry building in damascus on wednesday it's not yet clear who was behind the bombings. and admitted it was responsible for similar attacks in the past washington has denounced the most terrorists something the key rebel coalition in syria has condemned what is going to experience. it's clear that washington is trying to distance itself from extremists in syria they have designated the front a terrorist organization it's thought to be one of the most aggressive and ruthless groups currently involved in the conflict washington's decision to call them terrorists is seen as more of a symbolic move because many other fighters in syria possibly most of them welcome the efforts of those there's a terrorist efforts that include
breeds a sigh of relief as greece scrapes through with its. watchdog talks with iran to examine. how secret nuclear. to practice is if. you're watching kerry johnston at least sixteen people have reportedly been killed and many more injured including children in a bomb explosion in the syrian capital of damascus this follows several blasts outside the interior ministry building in damascus on wednesday it's not yet clear who was behind the bombings. and admitted it was responsible for similar...
61
61
Dec 6, 2012
12/12
by
MSNBC
tv
eye 61
favorite 0
quote 0
check out greece. that's what happens when a country avoids making tough fiscal decisions for too long. >>> a top republican pollster about what went wrong on their side. a lot of information coming here and why if republicans don't change the way they do business they may be on the losing end of elections for years to come. plus, the black helicopter crowd is at it again. republicans in the senate reject a united nations treaty to ban discrimination against the disabled. they say it would allow u.n. officials to come into this country and force home-schooled children into government-run, that is public schools. senator john kerry joins us to cut through the nonsense. >>> also tonight, the simpson's mr. burns gives us a rich man's look at the fiscal cliff. >> think of the economy as a car and the rich man is the driver. if you don't give the driver, he'll drive you over a cliff. >> that's an aside show and this is "hardball," the place for politics. >>> never too early for pollsters to start head to 20
check out greece. that's what happens when a country avoids making tough fiscal decisions for too long. >>> a top republican pollster about what went wrong on their side. a lot of information coming here and why if republicans don't change the way they do business they may be on the losing end of elections for years to come. plus, the black helicopter crowd is at it again. republicans in the senate reject a united nations treaty to ban discrimination against the disabled. they say it...
26
26
tv
eye 26
favorite 0
quote 0
your resume sire relieved as greece's great strewn with its dead buyback scheme with afghans now pulling flying for billions more in bailout cash. and the new u.n. nuclear watchdog or news talks with iran hoping to examine facilities they believe how secret up comic development might the evidence to back this is pushing this. it's not me i'm here in moscow are you watching our team with me to bomb what's a washington's decision to brand a leading rebel group in syria as a terrorist organization spock's of course of all drage among others who enjoy america's overwhelming support the key rebel coalition recognized by the u.s. as the sole representative of all the syrian people has thrown its weight behind al qaeda linked to al nusra front archies gannett you can experience it's clear that washington is trying to distance itself from extremists in syria they have designated the front a terrorist organization it's thought to be one of the most aggressive and ruthless groups currently involved in the conflict washington's decision to call them terrorists this in as more of a symbolic move bec
your resume sire relieved as greece's great strewn with its dead buyback scheme with afghans now pulling flying for billions more in bailout cash. and the new u.n. nuclear watchdog or news talks with iran hoping to examine facilities they believe how secret up comic development might the evidence to back this is pushing this. it's not me i'm here in moscow are you watching our team with me to bomb what's a washington's decision to brand a leading rebel group in syria as a terrorist organization...
105
105
Dec 10, 2012
12/12
by
CSPAN
tv
eye 105
favorite 0
quote 0
guest: greece used to be one of the only three non-u.s. countries in nato that was spending to% of gdp on national security. -- 2% of gdp on national security. they are now below that because it cannot afford it. host: democratic caller, new jersey. caller: i am a retired attorney colonel. i've done a lot of research on the federal budget. whenever we start talking about social security and medicare, the entitlements, and relating it to the annual budget deficit, we're making a mistake. it has no part today in a problem. the spending increases for the war and other things that we basically did not fund, the huge loss in employment in 2007 and 2008 were people stopped paying taxes and started drawing welfare, and number three, we have the tax cuts, the bush tax cuts and the obama tax cuts which have severely reduced the amount of revenue. the tax burden on americans from the federal government today is an 80-year low. we cannot fund the government with the revenues and loss in jobs that we have. host: cbo has done a study. including all par
guest: greece used to be one of the only three non-u.s. countries in nato that was spending to% of gdp on national security. -- 2% of gdp on national security. they are now below that because it cannot afford it. host: democratic caller, new jersey. caller: i am a retired attorney colonel. i've done a lot of research on the federal budget. whenever we start talking about social security and medicare, the entitlements, and relating it to the annual budget deficit, we're making a mistake. it has...
22
22
tv
eye 22
favorite 0
quote 0
falling short of the target going over budget and failing to reach the desired result greece's thirty two billion euro dead buyback scheme is nevertheless being hailed as success the country's carriages are now expected to release athens of more bailout cash money that's been held hostage since some archies put all of our picks up the story. greece's given its financial package is something of an early christmas present by buying back a chunk of its debt from them however when they take the wrapping paper off gift they don't find it's a little less which they ask for as part of a pound buyback scheme which saw athens buy back its own problems at around thirty four percent of their original value recording to the french finance minister but that should be enough in order to see them receive the next round of bailout money that the country's been crying out for in fact they've been waiting for that cash since june the international monetary fund had expected greece to be able to get its debt situation down to one hundred twenty four percent of overall economic output by twenty twenty th
falling short of the target going over budget and failing to reach the desired result greece's thirty two billion euro dead buyback scheme is nevertheless being hailed as success the country's carriages are now expected to release athens of more bailout cash money that's been held hostage since some archies put all of our picks up the story. greece's given its financial package is something of an early christmas present by buying back a chunk of its debt from them however when they take the...
12
12
tv
eye 12
favorite 0
quote 0
you're going to share with us something here ok all right now this one is come from a little boy in greece he says exactly what he wants for christmas and for twenty thirty. dear santa for christmas i would really like a fiscal policy which would see my country's debt be reducing one hundred twenty four percent of our annual output from twenty twenty i know that this is a big ask but it will stop the international monetary fund getting even more annoyed with us although we didn't make the whole thirty billion euros worth of savings we promised just recently we did try very hard. dimitri said marise. well who else has been writing to you oh well this one has come from somebody not too far away from where we are right now this is come from a little girl and burn lynn with her christmas wishes for twenty thirty. thank you for the positive economic growth i asked for last. it has been very helpful this year it would be great if we could have more of the same just is there a way we can give less of our money away to the eurozone countries all the best angle america p.s. i also want to win the g
you're going to share with us something here ok all right now this one is come from a little boy in greece he says exactly what he wants for christmas and for twenty thirty. dear santa for christmas i would really like a fiscal policy which would see my country's debt be reducing one hundred twenty four percent of our annual output from twenty twenty i know that this is a big ask but it will stop the international monetary fund getting even more annoyed with us although we didn't make the whole...
137
137
Dec 19, 2012
12/12
by
KCSM
tv
eye 137
favorite 0
quote 0
. >> greece's international lenders say the deeply indebted nation deserves to keep getting funds for a bailout, but they continue to warn that there are very large risks that the greek economy could eventually collapse. >> the report from the european commission and european central bank comes as athens receives a long overdue installment of over 34 billion euros international aid on monday. lenders are concerned about growing political resistance to implement needed reforms. public-sector workers are calling for strikes on wednesday to protest. and the international monetary fund, which is also part of the troika of lenders to greece, has released 890 million euros in fresh bailout funds to ireland. the imf says the country is making good progress under its own two-year rescue program. >> ireland is proceeding with reforms to lower its deficit in spite of a slowdown in economic growth. the imf expects ireland's deficit to come under targets. in spite of calls to boost social spending in response to high unemployment. ireland's budget for next year and to reduce its deficit by about
. >> greece's international lenders say the deeply indebted nation deserves to keep getting funds for a bailout, but they continue to warn that there are very large risks that the greek economy could eventually collapse. >> the report from the european commission and european central bank comes as athens receives a long overdue installment of over 34 billion euros international aid on monday. lenders are concerned about growing political resistance to implement needed reforms....
105
105
Dec 19, 2012
12/12
by
KQED
tv
eye 105
favorite 0
quote 0
some encouraging news on europe's economic crisis: standard and poor's gave greece a better grade. it got upgraded to a "b-minus" from "selective default" thanks to reassurances that greece will stay in the eurozone. on wall street, the dow rose 115 points, the nasdaq gained almost 44, and the s&p added 16. our next guest says any reasonable fiscal cliff deal is better than no deal. he's robert doll, chief equity strategist and senior portfolio manager at nuveen asset management. >> susie: hi, bob. nice to see you again. >> thanks, susie. >> susie: so investors and traders really do seem to think that a deal is coming, like our previous guest, roger altman. is this rally all about hopes for a deal or something nore fundamental? >> it is about hope for a deal. the malaise and the lack of confidence and the uncertainty has been pervasive, as you well know, susie. that has held corporations back from doing things, from spending money, and some individuals as well. as roger said a few minutes ago, if we can clear the air with some sort of fiscal cliff deal, i think that does lift the o
some encouraging news on europe's economic crisis: standard and poor's gave greece a better grade. it got upgraded to a "b-minus" from "selective default" thanks to reassurances that greece will stay in the eurozone. on wall street, the dow rose 115 points, the nasdaq gained almost 44, and the s&p added 16. our next guest says any reasonable fiscal cliff deal is better than no deal. he's robert doll, chief equity strategist and senior portfolio manager at nuveen asset...
141
141
Dec 24, 2012
12/12
by
MSNBCW
tv
eye 141
favorite 0
quote 0
this country is not becoming greece. this country -- this country, frankly, has a big unemployment problem. we have a deficit problem in the short term, not the long term. it's not a real problem now. our bonds selling higher than before and lower interest rates. it's not an immediate problem. he's saying what's worse. what he is saying is use blackmail on the entire economy like a gangster. pity if it happens to blow up. not increasing the debt ceiling -- >> already did that before. they have done it before. >> they have. >> and will do it again. >> frankly, that is obnoxious beyond belief. the president should not concede or negotiate on that basis at all. >> the president is adamant on the fact that's not a part of this conversation. >> it cannot be a part of any conversation. the debt ceiling is not a question of borrowing more. you determine how much deficit you will have passing the budget two, three, four years ago. >> correct. >> to say you won't raise the debt ceiling is to say you're not going to pay the bills
this country is not becoming greece. this country -- this country, frankly, has a big unemployment problem. we have a deficit problem in the short term, not the long term. it's not a real problem now. our bonds selling higher than before and lower interest rates. it's not an immediate problem. he's saying what's worse. what he is saying is use blackmail on the entire economy like a gangster. pity if it happens to blow up. not increasing the debt ceiling -- >> already did that before. they...
379
379
Dec 27, 2012
12/12
by
KQED
tv
eye 379
favorite 0
quote 1
for greece as a whole, it means that and more. the headlines are about finance ministers, debt deals, austerity measures. but it's become clear that he problem here in greece now goes well beyond just the economy. as a recent european commission report says: after years of weak growth, the crisis is now having severe social consequences. look up and you still see the ancient acropolis, symbol of a glorious past. and some parts of the city bustle with holiday energy. but not far away: closed-up storefronts. and, further below the surface, this: a health clinic set up by the greek branch of the international aid group, doctors of the world to serve the country's newly poor. dr. nikitis kanakis is its director. >> brown: kanakis group, in fact, had to cut back some of its work in africa because of the needs at home. here in perama, unemployment tops 50% as the shrinking economy has crippled much of the local shipping industry. at the same time, the deeply indebted greek government has made dramatic budget cuts, including to health be
for greece as a whole, it means that and more. the headlines are about finance ministers, debt deals, austerity measures. but it's become clear that he problem here in greece now goes well beyond just the economy. as a recent european commission report says: after years of weak growth, the crisis is now having severe social consequences. look up and you still see the ancient acropolis, symbol of a glorious past. and some parts of the city bustle with holiday energy. but not far away: closed-up...
93
93
Dec 12, 2012
12/12
by
FBC
tv
eye 93
favorite 0
quote 0
a debt to gdp ratio at 70% puts us at greece. they are 162%, we are not near that, but do you worry this could bring us there someday? >> well, that's exactly the right metric to think about how much debt we have relative to how big we are that's how we think about how much house we can afford on an individual level, and that's how the government should be thinking too. how much the u.s. government is sustain in terms of debt to gdp. luckily, we don't know. 70, we could survive in terms of the sense we won't bespialing out of control, but the higher that ratio is, then the more that future generations, their taxes go simply to service the debt for the services that their parents and grandparents enjoyed. tracy: right. >> it's the right way to think about the problem. get the number dun as soon as we can. tracy: the answer will be continue to raise axes to make those interest payments which is circular and arguably stupid at the end of the day. talk about the tax code. how do you do it? it's a big book of favors. it is a doorstop
a debt to gdp ratio at 70% puts us at greece. they are 162%, we are not near that, but do you worry this could bring us there someday? >> well, that's exactly the right metric to think about how much debt we have relative to how big we are that's how we think about how much house we can afford on an individual level, and that's how the government should be thinking too. how much the u.s. government is sustain in terms of debt to gdp. luckily, we don't know. 70, we could survive in terms...
215
215
Dec 10, 2012
12/12
by
FOXNEWSW
tv
eye 215
favorite 0
quote 0
here we ban them and it -- >> greg: the funny thing is we talk about greece, but before there was greece, there was detroit. detroit is greece. if it was only the acropolis. dead city. people left because they couldn't make a living, the unions suffocate pod tenial. >> bob: true about toledo and cleveland and cincinnati? the northern cities that have had bleed of workers? >> eric: i will make a wage with you. now that snyder signs it off and right to work, i bet an auto company goes -- brand new, never done business before in detroit. >> kimberly: you will lose this bet, bob. >> eric: coming up, 2004 south korean singer rapped about killing americans in 2019 and is invited to perform for president obama. ♪ ♪ >> eric: maybe not. we will gangmam bang it out next. and make sure you go to the facebook page. we are updating and posting facebook.com/thefivefnc. click like. we'll be right back. ♪ ♪ [ malennouncer ] it's tt time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only
here we ban them and it -- >> greg: the funny thing is we talk about greece, but before there was greece, there was detroit. detroit is greece. if it was only the acropolis. dead city. people left because they couldn't make a living, the unions suffocate pod tenial. >> bob: true about toledo and cleveland and cincinnati? the northern cities that have had bleed of workers? >> eric: i will make a wage with you. now that snyder signs it off and right to work, i bet an auto...
155
155
Dec 12, 2012
12/12
by
CNNW
tv
eye 155
favorite 0
quote 1
what makes us greece? it's not because the tax code is at 35% versus 39.6. what's going to make this country greece, like every other western nation, retiring at 10,000 a day in terms of baby boomer, three workers for every retiree, in 20 years we'll have two. medicare and social security are about $30 trillion underfunded. if you did what tip o'neill and ronald reagan chose to do, reform entitlements, we become the most dominant place on the planet pretty quickly. so what i would plead with the president to do is use this mandate. redo revenue, which we should. but what keeps us from becoming the country we want to be and damns the future generations is entitlement and spending. when i was 21, my mom died, when i was 22 my dad died. if it wasn't for social security survivor benefits, my sister would have never gone to college. social security is going to fail. when i was 22 we needed the 300 and something bucks we got a month. i'm 57, i have no kids, i could easily give up $400 in retirement from social security to help people who can't. >> as a reality for
what makes us greece? it's not because the tax code is at 35% versus 39.6. what's going to make this country greece, like every other western nation, retiring at 10,000 a day in terms of baby boomer, three workers for every retiree, in 20 years we'll have two. medicare and social security are about $30 trillion underfunded. if you did what tip o'neill and ronald reagan chose to do, reform entitlements, we become the most dominant place on the planet pretty quickly. so what i would plead with...